Blowout a tire when collecting rent, deductible?

Technical topics regarding tax preparation.
#1
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A landlord blew out a tire on his way to collect rent, he spent $250 fix the tire. Is a deductible expense on his Schedule E? If so, on what category?

The IRS Publication 527 lists the following expenses:

• Advertising.
• Auto and travel expenses.
• Cleaning and maintenance.
• Commissions.
• Depreciation.
• Insurance.
• Interest (other).
• Legal and other professional fees.
• Local transportation expenses.
• Management fees.
• Mortgage interest paid to banks, etc.
• Points.
• Rental payments.
• Repairs.
• Taxes.
• Utilities
Please consider visiting this post where my question at the end has not been answered yet:
viewtopic.php?f=8&t=12065, thanks!
 

#2
taxcpa  
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Two ways to deduct auto expenses. Mileage rate or actual expenses. Both require logs to support the deduction.

Mileage is easy, # miles for business purposes times the rate. If thats the case, no direct deduction for the blown tire.

Actual expenses would include all costs of operation, interest on a loan, and depreciation. That cost is then allocated by the % of business use to the total use of the vehicle. Again, no direct write off of the blown tire.
 

#3
Nilodop  
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Do note that the standard mileage rate is sometimes referred to as a flat rate. ;)
 

#4
AlexCPA  
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Nilodop wrote:Do note that the standard mileage rate is sometimes referred to as a flat rate. ;)


I'm getting tired of your puns. :D
Even more of my antics may be found on YouTube:
https://www.youtube.com/channel/UCXDitB ... sMwfO19h7A
 

#5
Nilodop  
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Not bad. But don't let it inflate your ego.
 

#6
AlexCPA  
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At this point we've exceeded the maximum PSI (puns per square inch) and knocked the entire thread out of balance.
Even more of my antics may be found on YouTube:
https://www.youtube.com/channel/UCXDitB ... sMwfO19h7A
 

#7
Nilodop  
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Too much pressure.
 

#8
AlexCPA  
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I'm all out of puns for now but I hope you enjoy the holidays and have a Goodyear.
Even more of my antics may be found on YouTube:
https://www.youtube.com/channel/UCXDitB ... sMwfO19h7A
 

#9
NYea  
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AlexCPA wrote:I'm all out of puns for now but I hope you enjoy the holidays and have a Goodyear.


Nicely done - made me laugh out loud !!!
 

#10
JR1  
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Great levity. Who says we're boring people?
Go Blackhawks! Go Pack Go!
Remembering our son, Ben Jan 22, 1992 to Aug 26, 2011.
For FB'ers: https://www.facebook.com/groups/BenRoberts/
 

#11
Nilodop  
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#12
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Have you discussed OIH with your client? Depending on the outcome of that discussion, he may feel a bit deflated.
 


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